State Street Appointed by Danish Investment Firm Maj Invest To Support Newly Launched Fund


Tuesday, September 25, 2012 8:08 am EDT



State Street Corporation (NYSE: STT) announced today that it will provide custody, transfer agency and Luxemburg fund administration services to Danish investment firm Maj Invest’s newly launched sinAl fund, a long-short equity fund.

The “stock market investing Artificial Intelligence” Fund (sinAI Fund), was launched in June in Luxemburg as a SICAV fund and currently has approximately $215 million in assets under management. All investments in the fund are made using a sophisticated proprietary AI system that selects long as well as short positions in the US equity market. The system ranks these potential opportunities according to their risk-reward profiles.

Carsten Hoegh, head of Investor Relations, Maj Invest commented, “We think of sinAI as the second generation of quant models and our inflows are coming from large Danish pension funds that recognise this strategy as an important development in quant investing. As global leaders in hedge fund administration we are delighted to have the support of State Street as our custodian and administrative agent for this fund.”

Simone Vroegop, vice president of business development for State Street Global Services, commented, “In a State Street survey of European asset managers conducted by the Economist Intelligence Unit earlier this year, the findings highlighted the strategies asset managers are seeking in order to navigate the new financial environment, and their quest for fresh ideas is driving a significant shift in approach. Maj Invest’s use of second generation quant investing is a great example of an asset manager incorporating a new investment style, and we are delighted to support them with a range of investment services.”

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $22.4 trillion in assets under custody and administration and $1.9 trillion in assets under management at June 30, 2012, State Street operates in 29 countries and more than 100 geographic markets. For more information, visit State Street’s web site at

*This AUM includes the assets of the SPDR Gold Trust (approx. $65.7 billion as of June 30, 2012), for which State Street Global Markets, LLC, an affiliate of State Street Global Advisors, serves as the marketing agent.


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